Gorman-Rupp Company (The) (NYSE:GRC – Get Free Report) saw unusually-strong trading volume on Wednesday . 146,629 shares changed hands during mid-day trading, a decline of 5% from the previous session’s volume of 153,773 shares.The stock last traded at $89.07 and had previously closed at $91.74.
Analyst Ratings Changes
A number of research analysts have recently weighed in on GRC shares. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Zacks Research lowered Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on GRC
Gorman-Rupp Price Performance
Gorman-Rupp (NYSE:GRC – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.49 by $0.19. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%.The company had revenue of $176.59 million during the quarter, compared to analyst estimates of $170.61 million. On average, equities analysts forecast that Gorman-Rupp Company will post 2.6 EPS for the current fiscal year.
Gorman-Rupp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, May 15th. Gorman-Rupp’s dividend payout ratio is presently 34.08%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in shares of Gorman-Rupp by 211.6% in the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after acquiring an additional 564,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Gorman-Rupp by 2.1% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 753,862 shares of the industrial products company’s stock worth $34,985,000 after purchasing an additional 15,178 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of Gorman-Rupp by 0.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 599,520 shares of the industrial products company’s stock valued at $28,627,000 after buying an additional 2,970 shares during the last quarter. First Trust Advisors LP increased its stake in Gorman-Rupp by 326.1% in the first quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock worth $32,581,000 after purchasing an additional 401,340 shares during the period. Finally, Bank of America Corp DE increased its stake in Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock worth $18,778,000 after buying an additional 276,101 shares during the period. 59.26% of the stock is owned by hedge funds and other institutional investors.
Gorman-Rupp Company Profile
Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.
Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.
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